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tv   Mornings With Maria Bartiromo  FOX Business  March 21, 2023 6:00am-7:00am EDT

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larry: that's it for "kudlow." thanks for watching, folks. ♪ maria: good tuesday morning, everyone. thanks so much for joining us, i'm maria bartiromo. it is tuesday, march 21st. your top stories right now, 6:0. today the fed's dilemma, futures
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are rallying, take a look, triple digit gains, stock industrials up 226, that's three quarters of a percent, the nasdaq right now up 30, s&p higher by 22 as we look ahead to the federal reserve's two day march meeting kicking off today. will the fed continue to fight inflation with higher rates or pivot to financial stability given the increasing bank stress? market is pricing in right now a 25% chance of no rate hike tomorrow. we're on watch. yields are higher, the 10 year right now up almost 5 a basis points at a level of 3.5 a 37%. stocks finished higher yesterday, take a look. bank fears going into the fed meeting certainly, investors on alert. the dow industrials when all was said and done 3 up 382 points, p 500 higher by 35. we're watching first republic shares, take a look at the stock, the wall street journal
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is reporting jp morgan ceo jamie dimon is working with big bank p executives on a plan to rescue first republic after two bank collapses and government take over of credit suisse by ubs. european markets are trading this way. ft 100 in london with a firmer bid, up 106, one and-a-half percent, cac is up 118, one and two thirds percent and dax index higher with by 242. in asia overnight, take a look at markets. hong kong was the biggest performer on the upside. japan closed for a holiday. the hang seng up 1 and a third percent, on day two of talks between xi jinping and vladimir putin. and a potential arrest of president trump in the hush money case, here's what we've got. sources are telling fox news had that law enforcement officials now do not expect the former president to be arrested today as the grand jury which will vote on any charges is expected to meet again wednesday, according to the wall street
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journal. sources say an arraignment is possible next week. the house judiciary committee meanwhile demanding new york district attorney alvin bragg testify before congress about this case. here to break down the details all morning long this morning, strategic wealth partners ceo, mark tepper and columnist, fox news contributor, liz peek right here. "mornings with maria" is live right now. and now this, michael cohen's former legal advisor robert costello appearing for two hours before a manhattan grand jury yesterday, defending former president trump telling reporters that cohen cannot be trusted. watch this. >> i listened to michael cohen stand in front of the courthouse and say things that are directly contrary to what he said to us, my obligation is to bring the truth to both the district attorney and trump's lawyers. that's exactly what i did. they want to go after donald trump and they have solid evidence, so be it. but michael cohen is far from
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solid evidence. lie, cheat, steel, shoot somebody, it takes i'm not going to jail, but he went to jail and he's on the revenge trail. maria: joining us now, guy lewis. what's your reaction to the latest development with robert costello? >> good morning, maria. boy, it tells me that what i've always said, prosecution and politics simply do not mix. clearly, costello's come forward as a result of the trump lawyers offering this testimony. they apparently gave the ex president a chance to come forward and testify before the grand jury and of course, like anyone would do, declined it because the process in my view just is so, so unfair. maria: well, i think this is a great point that you make. politics and policy and prosecution do not mix,
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unfortunately. politics is running through every agency. this hatred for trump is driving decisions. where does this go now? >> so if we take a step back, this is a case that originated -- if you believe stormy dan daniels, it occurred in '06. the allegations started to aarise in '16. the payment occurred sometime around the presidential campaign and nothing illegal about trying to keep these allegations out of the news when the president's running. the u.s. attorney's office has passed on this case. the fec has passed on this case. and now we've got a run-away district attorney who promised in his campaign to prosecute donald trump. completely, totally unfair. maria: yeah. and meanwhile, we've got it all on tape talking about politics, while he was running for
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manhattan da, alvin bragg was bragging and campaigning as the man who could take down former president trump. watch this video. this is from just two years ago. watch. >> i'm the can candidate in te race who has experience with donald trump. i was the chief deputy in the attorney general's office. we sued the trump administration over 100 times. i know how to litigate with him. maria: he's the guy to take down trump, guy. [laughter] >> i got to tell you, maria, how can this guy not recuse himself? how can he stand before the public while he's declining, while he's declining violent crime cases, cases that really matter, and prosecute the ex president of the united states and then what the icing on the cake to me is when we found out yesterday that his office won't allow -- if he is indicted and he will be, if they ask the
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grand jury to do it, if he is indicted, his office will not allow the president to appear virtually which i'm doing by the way in my practice all over the country still. so just clearly it smacks of politics and it's wholly unfair. maria: we'll be watching it, guy, it's great to see you, thanks very much. you cannot write this stuff. this is for a hollywood movie. guy lewis, good to talk with you. please come back soon, sir. thank you. and i will be speaking with harvard law professor emeritus alan dershowitz in the program, live at 8:30 a.m. eastern for his analysis of this possible indictment of former president trump. we are just getting started. coming up, the fed's two day policy meeting begins today, jay powell under pressure. will he pivot? we are previewing it. a star studded white house press briefing gets offended by a reporter questioning karine jean-pierre, it's making a buzz
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this morning. wait until you see this. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ what if we live to 100. i don't want to outlive our money. i keep eating all these chia seeds. i could live to be 100. we work with empower, even if we do live to 100 we don't have to worry. eh, not worried. take control of your financial future to empower what's next. ♪ ♪ get $1500 purchase allowance on a 2023 cadillac xt5 and xt6.
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- huh? what, that? no, don't worry about that. here we go. - asking the right question can greatly impact your future. - are, are you qualified to do this? - what? - especially when it comes to your finances. - yeehaw! - do you have a question? - are you a certified financial planner™? - yes. i'm a cfp® professional. - cfp® professionals are committed to acting in your best interest. that's why it's gotta be a cfp®. find your cfp® professional at maria: welcome back. we have a rally underway on wall street, take a look at futures, dow industrials up 209 right now, nasdaq up 25 and s&p up 21. news this morning that jp morgan ceo jamie dimon will be working with other big bank executives to craft a new rescue plan for first republic bank. one option on the table, a capital raise. this as u.s. officials are now studying ways that the fdic could expand and cover all deposits lost in the banking crisis. joining me is anderson capital
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management chief investment officer, peter anderson. it's great to have you this morning. is the that doable that the fdic would secure all a deposits? >> that is quite an enormous step, maria, and it just focuses on the whole psychology of this market right now. i love to say we are all analytical in the market but when it comes to banks, there are inherently unstable, really and so psychology is playing a main role right now in the recovery out of this ridiculous mess we've gotten ourselves into right now. maria: yeah. i mean, you're not kidding. but what are markets doing? the fed's two day meeting kicks off today. you've got the futures market pricing in 25% chance of no rate hike tomorrow, peter, but yesterday the dow industrials were up 382. right now we're up another 212. what are investors buying on this? >> well, you know, i am among those 25% that think that the fed should not raise rates and
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they should actually pause, maria. you know, a pause is different from a pivot. don't you sunshine -- don't you think? a pivot means they've changed their mind. if he pauses, it's saying let's give the market breathing soon and let's see how this plays out because i do think the fed is responsible for some of this bank fiasco that we've had because they're not wai waitingg enough to see what's happening with the rate hikes that they've made. you know, it's been a year since they started their rate hikes and i think it's ridiculous to think that you hike rates and immediately you should see some reaction in the markets. i think it's totally playing out the way we should expect. maria: and that's what mickey levi writes in the journal this morning who is an excellent economist, knows the market so well. he writes mistakes the fed keeps making and in the middle of the piece he writes, look, bad judgment, insufficient diversity of thinking and the lapse in
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risk management compounded the fed's mistakes over and over. liz peek, jump in here. >> good morning, peter. the only question is whether the fed would completely torch whatever credibility it has left now if they don't raise rates 25 basis points. i think that really makes the market very squeamish already, the big issue here is confidence. if we just -- if the fed pauses, as you say, aren't we throwing out like six months of conviction that the fed is really meaning it on inflation. inflation's still way, way above their target. >> absolutely. and i would actually push back and say they would exhibit more credibility if they paused because i'm saying that a pause is different from saying, hey, i've changed my mind. we're not going full force on this. i think a pause shows more intelligence about where we are right now and they can still project confidence and certainty in their opinions. i think anybody that's looking
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at the circumstances right now in the market, especially, maria, what you were saying about how the dow has moved up, there's a lot of confusion right now and let's also add that this is the first bank run that really has been done by group texting. before, we didn't have social media so there is a whole other complexity now when we talk about the possibility of bank failures. one last thing i wanted to add is, i don't know if many people realize this after the great depression when they built banks, the lobbies of those banks were enormous and when you walk into an old bank you wonder why are the lobbies so enormous. it was purely to prevent lines forming outside the bank under any circumstances so that shows you how sensitive we all are, way back for 80 years back, about bank runs and lines and perceptions. right now, there's more psychology than i would say factual economics at play. maria: i mean, look, the fed
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has to balance now whether or not it's going to keep fighting inflation with higher rates and versus financial stability. right? i mean, this is the case that all central banks will have to face now that we are facing this he rreality of bank stress and d this worry now over the safety of regionals. >> that's true. and i do think that moving forward we will still see -- if he were to stop right now, you know, based -- let's say pivot as on oppose to pause, i think l see more damage and the delay effects of the prior hikes. the fed has hiked at an a incredible rate and i'm not sure we've ever taken the step back to kind of look at that big picture and say wow, look how fast this has happened. we're bound to have some stumbles. i think we're seeing that now. maria: 15 years of zero rates and then higher rates in 11 months, literally. peter, would you buy this market here?
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you want to buy stocks or get to the sideline? >> i am doing very well this year, so i have to tell you that i would definitely buy stocks. one thing i would not do is buy three month cds. i have a financial advisor friend that said in his 40 years he's never had calls like this where clients are calling up and saying get me out of stocks and put me into three month cds. i think for an equity investor, i think that's a tremendous mistake right. maria: all right. great analysis, as always. peter, good to see you. thanks so much. peter anderson joining us, anderson capital management. thank you, sir. quick break and then president biden using the re veto pen fore first time in his presidency on a bill passed by both chambers of congress. senator manchin is blasting the veto. we're on it, next. ♪ i just can't refuse it. ♪ like the way you do this. ♪ please don't stop the b
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>> i just signed this veto because legislation a passed by the congress would put at risk retirement savings of individuals across the country. they couldn't take into consideration investments that wouldn't be impacted by climate, impacted by overpaying
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executives and that's why i decided to veto it. maria: there you go, president biden issuing his first veto of his presidency. he was rejecting the bipartisan bill that would protect americans' retirement funds from esg investing mandates. west virginia senator joe manchin issued a statement, writing this administration continues to prioritize the radical policy agenda over the economic, energy and national security needs of our country and it is absolutely infuriating writes manchin, despite a clear and bipartisan rejection of the rule from congress president biden is choosing to put his administration's aggressive agenda before the well-being of the american people. the esg rule stays, mark. your thoughts in? >> president biden p without a doubt is telling every single american out there, put woke politics ahead of your own retirement savings. if anyone is jeopardizing someone's retirement savings it is president biden right now.
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as a plan fiduciary, we are required to always act in the best interest of the clients, to put the clients' interests ahead of our own first and foremost. and normally what that means that we should be selecting investments that give the participants a chance to earn a better risk adjusted return. now, esg funds in particular, very, very rarely do they that. they typically have a high correlation to the s&p 500. had have higher fees. and when you're losing money to higher fees and potentially lower performance over the long run, that is going to erode your life savings. so look, this is not a good idea at all. fid ffiduciaries need to act it interest of their clients. maria: the rule protects retirement fund managers from lawsuits, if their investment choices cause lower returns or
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losses because the funds indulge in climate change or social causes. i mean, can we just take politics out of investing? >> well, here's the problem, maria. last year the s&p was down about 20%, energy stocks particularly oil stocks were up about 60%. so last year people investing in esg funds lost money big-time in terms of opportunity cost because they weren't in the best performing sector and that may happen year after year. we don't know. i think it's really a little bit like svb management, silicon valley bank management, losing track of whats was supposed to guide them. it wasn't woke politics. it wasn't investing in good causes. if we got back in our country to running companies for one reason alone, making profits, which by the way has all kinds of beneficial ou outflows like creating jobs, making communities healthier, happier and more prosperous and if we
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got into investing for one purpose, maximizing returns, that keeps peoples' eye on the ball. get rid of the tra trappings of social do goodism and get back to capitalist guidelines which are clear, invest your clients' money as mark said to make the most return possible. that's what we should be faux cusse -- focused on. esg, a lot of the funds are fraught lent, they're not following esg guidelines and secondly it's all about making money for wall treatment they're charging higher fees. it's another way to make money. maria: that's right. i mean, look, if you want to become a philanthropy and pursue these kinds of goals, go for it. >> right. maria: but keep away from investment portfolios and our pension plans and our retirement accounts. this is pretty simple stuff. let's take a break. when we get back xi jinping and vladimir putin cozying up in moss you could you. how the white house -- moscow.
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learn more today at about health care that puts you in control. maria: welcome back. good tuesday morning, everybody. thanks very much for joining us. i'm maria bartiromo. it is tuesday, march 21st. take a look at markets this half hour. we have a rip roaring rally underway. futures indicating a gain at the start of trading of 242 points on the dow, that's three quarters of a percent, we're looking ahead to the federal reserve's two day march meeting beginning today and right now the futures market is pricing in a 25% chance of no rate hike tomorrow. nasdaq up 54, s&p higher by 27.
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10 year treasury right now up 5 and a quarter basis points, 3.541%. markets finished higher yesterday as well. take a look. big rally there with the dow industrials finishing near the highs of the day, gain of 382 points, one and a quarter percent be. nasdaq up 45, s&p higher by 35. even as the stress around the banks continues. meanwhile, there's this this morning. cases of a deadly fungal infection are growing across the country. gerri willis with details this morning. gerri. >> good morning, maria. the cdc reporting cases of this deadly fungus have tripled in the u.s. from 2019 to 2021, the fungus was discovered 15 years ago in japan. it's infected over 2,000 people in the u.s. just last year. it has mortality rate of 60%. and is risky to those with compromised immune systems. doctors saying it's mostly contracted in hospitals, seen in patients under long-term care.
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as of now it's been spotted in 35 states. french president emmanuel macron's government narrowly surviving a no confidence vote as a number of the national assembly tries to kill the president's contentious pension overhaul. that reform would raise the retirement age to 64 from 62. and as part of the french president's pro business agenda, he says the only way to save france's costly pension system without raising taxes or running up the national debt is raising that retirement age. the move has brought on violent vieprotests. he faced more than a dozen no confidence votes since last april. amazon confirming it will take another 9,000 job cuts adding to the 18,000 it said it would lay off in january as the tech blood bath had continues. the news comes in an internal memo from ceo andy jasse.
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employees in the cloud computing and advertising businesses are the folks in the crosses hairs. the company's workforce doubled over the pandemic during a hiring surge across nearly the entire tech sector. the company will still hire in some strategic sectors. let's take a look at that stock. it's barely nudging higher here in today's market. maria, back to you. maria: all right, gerri, thanks very much. meanwhile, we are taking a look at china and russia this morning, chinese president xi jinping and russian president president vladimir putin holding more talks in moscow today after meeting for at least four hours yesterday. xi inviting putin to visit china later this year as well. fox news' white house correspondent peter doocy pressed the biden administration on the increasing ties between america's two top adversaries. watch. >> seems like this -- these two super powers are teaming up now against the u.s. why did president biden let this happen? >> these are two countries that
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have long chafed. this is not something that these two countries just cooked up since president biden got he'll l ected. >> do you think putin and xi fear president biden? >> you'd have to ask them whether they fear or they not. it is not about fear. it's about president biden advancing our foreign policy goals around the world. maria: joining me is fox news senior strategic analyst, chair chairman for the institute for the study of war. general jack keane is with us. assess this threat now that xi jinping and vladimir putin are obviously in partnership. >> yeah. very much so. you know, putin's been in power for 23 years, xi is starting his 11th year. they have had 40 visits counting the one that's taking place today so this has been a long-term relationship. it actually goes back to before
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president xi was head of state when they had a number of visits during that time. so why are they together? what makes sense about this? they've had deep divisions in the past between russia and china. they've had border skirmishes, et cetera. the reason why they're together, the reason why they have a strategic partnership, because they both arrive at the same place independent of each other. and that place is a national interest to reduce the united states and the coalition of democratic nations influence in the world, a position that we have held with those nations since the end of world war ii. in a sense, the 20th century was the united states of america's century along with democracy. they want to change that and have their own sphere of influence and as such they came together in this strategic partnership. i'm not certain that all of the
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foreign policy and national security people in this administration and at large in the country understand the seriousness of this partnership and what it can mean long terms as they continue to minimize the united states' influence. just for example, let's just take ukraine, maria. if russia wins in ukraine, china wins. i mean, that's the reality of it. the united states' influence will be reduced. democratic nations' influence, south korea, japan and australia, who are backing ukraine and supporting it, their influence in the region will be reduced. and china's will increase. china's aggression would naturally increase as a result of a win here. all that said, there are real problems here. because putin's got a huge issue. his of fence is failing right -- his offense is failing right now as we speak and he doesn't have
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all the munitions he needs, all the weapons he needs. xi has to faux coming into this meeting, maria, am i backing a losing hand here or can i make a difference and help putin to win? that's the calculus he's going through. maria: yeah. it's great analysis. but you know, general, i guess you have to ask yourself what can the united states do about this at this point? and one issue that i keep coming back to is all of this leeway that we give communist china. the funding of the ccp's expansion. the terrific trade deals. you know, can we all agree that china is not a developing nation anymore? and should not have all of these breaks? they've got, you know, most favored nation trade status the. missouri senator josh hawley expected to introduce a new deal ending normal trade relations with china act. he's going to drop that today. the legislation would permanently revoke the most
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favored nation trade status, two years after it was act ad -- was enacted. sushouldn't we take steps in tht regard. >> this administration is still imposing much of the trump tariffs. we've slapped down hard an all of our advanced semiconductors and they're not going to china. that's probably the most significant blow they've had in some time. i think the china committee -- i think that was an inspired choice to have such a committee is going to be looking very hard at whether the technologies are actually contributing to the growth of china's military or the rep repression of its own society and yes, i'm all in agreement here. we have got to recognize that trade is also a national security issue. and where it's enhancing china's national security, we've got to play a hand here and the government's got to deal with the private sector on issues like that.
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so i'm in agreement. whether we remove the favored trade status or not, i'll leave that up to the congress. i think we're well beyond it to be frank, given the tariffs we're imposing and the quotas we're imposing which are not supposed to take place if you've got favored nation trade status. maria: there's also this issue when it comes to the dollar. you know, saudi arabia's king salman reportedly inviting iran's president for an official state visit after the two countries agreed to restore those relations in a peace deal brokered by china. now the ccp's china act like this power broker. china wants to pay for oil in the y. an. what -- yuan. what rush thoughts on the threat to the u.s. dollar? that's another goal of the ccp to replace the dollar as the superior currency. >> yeah, they certainly want to get there in doing that. i don't think they can. but the whole issue here of he
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global diplomacy being exercised by xi, i mean, he's really doing this because he wants to impact the developing nations and clearly united states gave him a highway to travel on because the biden administration when they came into power pushed back on the arabs, immediately went to the deal with renewing the nuclear deal with iran, stiffed israel. this was a pattern from the obama administration and the middle east arabs saw it for what it is. what they had should have been doing is doubling down on trump's sanctions and also increasing the abraham accords. it's a fact that mbs, who is a part of this deal with china, i mean, he has told others in the middle east they that at some point he wants to be a part of the abraham accords. why? because iran is a major threat in the region. but he got stiffed by this
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administration. and the frustration certainly built up over the last year and-a-half as a result of it and the chinese have literally taken advantage of it. i do believe, maria, based on my own association with the middle east, that at some point saudi arabia would much rather have security guarantees from the united states, would much rather have an open arms deal with the united states and also have the united states assist it with civil new you cl -- nuclear powr as opposed to having china in the middle of what they're doing. that i think is a step in what that direction to get the united states' attention in my view and he's looking beyond this administration i suspect. maria: yeah. looks that way. general, always a pleasure. thanks very much for your insights. always informed. thank you, sir. >> yeah, great talking to you, maria. maria: and to you. general jack keane. quick break and then congressman andrew garbarino is here,
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weighing in on how the united states is studying ways to guarantee bank deposits and what the house financial services committee is doing about it. you're watching "mornings with maria" live on fox business. ♪ baby, i love you. ♪ come on, baby. ♪ baby, i love you. ♪
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maria: welcome back. treasury officials looking into ways to temporarily guarantee all bank deposits, want to expand fdic insurance without congressional approval if the banking crisis gets worse. the fdic announcing it is extending the bid window for silicon valley bank entities until he friday evening. joining us now, congressman andrew garbarino. we appreciate your time this morning. i want to get your take on the stress around the banks and is it even feasible to think the fdic is going to support all bank deposits? what is it, socialism? >> well, first off a, you i don't see how they have the
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authority to expand it to cover everyone. and i don't see how they can. the treasury secretary is responsible and required by law to provide us a report on systemic risk by expanding the coverage to the uninsured depositors at silicon valley bank as well as signature. so to extend it to all depositors for every bank, i don't nknow how you do that. the banks are the ones that make up -- that cover these losses, not the taxpayers. so i don't see how you do this without extending the coverage to -- to that taxpayers pick up the cost. i don't like the idea of expanding the coverage to all uninsured deposits. i don't see how you can do it either. i don't think it's practical. maria: look, treasury secretary janet yellen keeps telling us how safe the banking sector is but people don't believe her. here we're looking at rescue efforts, credit suisse has to be acquired by ubs in europe.
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you've got silicon valley bank. you've got signature bank collapsing and now you've got jamie dimon leading big bank ceos to try to save first republic and what's coming out of your committee, ideas on new rules, more regulation. massachusetts senator elizabeth warren is calling for more regulations on banks. here's what she said. i've got to get your take on this. watch. >> i'm calling for an independent investigation of the fed and the whole regulatory system here, the fed doesn't just get to do its own investigation. i'm calling for the fed right now to reverse its weakened regulations and to bear down, to look at these banks with much more scrutiny and then i'm also calling on congress as you rightly say to roll back the ability of the fed to weaken regulations and calling for these ceos to be held accountable. maria: well, i mean, was it not elizabeth warren years ago who
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was telling us that there were too many regulations on mid-size banks and they need to be rolled back? the white house says congress should not be let off the hook, needs to be taking more action. congressman, what are you going to do in the financial services committee? >> well, in response to senator warren and the white house, the financial services committee and the house next week is having a hearing specifically on silicon valley bank. we're bringing in the fdic. we're bringing in the vice chair of the federal reserve to find out what happened here. we're interested in facts. we're not interested in hyperbole, not interested in hypotheticals. we want to know the actual answers and we're going to find them out next week and subsequent hearings. this is about making sure that what happened in silicon valley bank, what happened to signature bank ha doesn't happen to the rt of the system. i don't think it will. i think our regulatory framework is proper right now. i've spoke tone a lot of experts.
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they think the current amount of regulations are perfect. they think they work well. any additional capital requirements could actually hurt the banking sector and hurt individual borrowers by increasing costs and lessening the amount of money that is able to go out for lending. so right now we're going to look and see what specifically happened with signature what specifically happened with silicon valley bank, whether there were regulators asleep at the switch, whether silicon valley bank didn't have the proper leadership, didn't have the proper risk officer in place so we think the regulatory framework is proper. whether those regulations were properly adhered to by the fdic, the regulators in california, that's what we're going to be looking at next week. we want answers and we're going to get them with our oversight. maria: i mean, look, silicon valley bank was focused on esg and diversity and taking a cue from this biden administration, putting safety of the bank on
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the back burner. liz, you just wrote about elizabeth warren. sure sounds like she's running for president with all a these comments that she's calling on everybody to do something now. >> yeah, she's reprising her most famous role during the financial crisis, the champion of the little he guy. look, what your committee needs to know, congressman, and needs to explore is the fact that the regulators had all the rules and regulations they needed and in fact they knew almost a year ago that svb bank was in trouble, what that they were breaching all kinds of safety guidelines in terms of their exposures and they had this gigantic hole and they could -- they knew by the fall that they might have a run on the bank and they told the ceo that. so the real question is, why didn't anyone do anything? why didn't they step in and say okay, you're fired to the ceo or talk to the board and make sure that something happened? because they knew it. he knew it.
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and yet nothing happened. and possibly having the ceo of svb on the board of the san francisco fed, the supervisory organization supposed to be overseeing this bank, it was a travesty and that's what happened. maria: congressman, your reaction. >> absolutely you. you look at -- yeah, you look at the board makeup of these boards and they're no longer experts in the financial field. i mean, through esg they're putting on people who probably don't have the expertise to oversee what's going on with the actual c-suite, what's going on with the oversight. so i think liz is absolutely correct. there has been -- some of these banks. not all of them. there are very good community banks out there. the big banks passed financial stress tests back in june. the banking sector i think is fine. but we have individual banks who
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of were not following the proper regulatory framework and regulators who -- and we don't know why, but we're going to find out, were not holding these banks to the standards that take they should have been held to so that's what we're going to be doing next week in the house financial services committee under our chairman mchenry. we're going to get our answers. we're going to get them from the fdic, we're going to get them from the federal reserve and make sure that the proper oversight, both for congress and regulators is upheld on these banks and we don't have another run on the banking system like 2008, 2009. maria: we'll be watching your liedership and work in the committee. don't forget what we say on this program, bad policy results in bad outcomes. andrew gashly he -- garbarino, good to see you, sir. disruption at the white house press briefing yesterday, why this one reporter is causing karine jean-pierre to get defensive. wait until you see this. it's making a buzz this morning.
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if lawn care were easy, everyone would do it... as well as trugreen does it. trugreen's online tools help ensure your custom treatment works to deliver a greener, healthier lawn - guaranteed. it's time to trust your experts at trugreen. go online today! >> i know in this town a lot of folks don't always agree, right, and don't always feel heard, seen, listened to but i truly believe we should do our best to help take care of each other. maria: that's the hot-topic buzz, that was jason and cast of ted lasso visiting the white
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house speaking of mental health, prior karine jean-pierre was called out by today news african reporter accusing her of it knowing him. watch this. >> we are not doing this. we are not doing this. >> i'm saying that this is -- i'm saying that's not right. >> welcome, guys, welcome to the press briefing room. maria: so ativa says he's been raising hand and sending emails but feels disrespected, liz. look, if this is not on snl skit in the coming weekend, i will be shocked. >> i agree. maria: this has got to be an snl skit. liz: the truth is this white
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house spokesperson and the white house in general has been shutting down the press and the anger about that is bubbling to the surface. president biden refuses to take interviews. he refuses to answer questions when he's walking around. he comes and talks to the nation about something really serious like our banking crisis. 5 minutes he turns his back on questions and walks away and karine jean-pierre who is probably the worst press secretary in my lifetime basically defends -- defends him with word salads and completely meaningless statements. i feel almost sorry for her because it's really her boss that is short-changing the american people here in terms of communications and answering questions. maria: absolutely. i totally agree with everything that you're saying, look, liz, it comes from a buzz, -- it comes from above, who is the queen of word salad, kamal


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